WASHINGTON (dpa-AFX) - Futures indicate a flat to slightly negative start for U.S. stocks Thursday morning. Reports showing a record surge in hospitalizations due to coronavirus infections and anxiety over fiscal stimulus may weigh on stocks.
Data on consumer price inflation for the month of November, jobless claims for the week ended December 5, both due out at 8:30 AM ET, are expected to make an impact on price movements.
Facebook shares will be in focus amid reports several states and the Federal government sued the company on Wednesday, alleging the social media giant has abused its dominance in the digital marketplace and engaged in anticompetitive behavior.
The Federal Trade Commission is reportedly seeking a permanent injunction in federal court, aiming to force the company to divest assets, including Instagram and WhatsApp. The states are also calling for the company to be broken up, if necessary.
According to reports, COVID-19 hospitalizations and new fatalities due to the pandemic in the United States broke all-time record Wednesday.
As per the latest update published by COVID Tracking Project, a total of 106,688 patients are currently admitted in U.S. hospitals with coronavirus infection. Wednesday also marked two more grim milestones: The highest ICU, and ventilator usage in a day.
On the vaccine front, Moderna has begun dosing patients in its phase 2/3 study of Covid-19 vaccine in adolescents.
The U.S. Food and Drug Administration is expected to grant emergency use authorization for the Pfixer/BioNTech Covid-19 vaccine later Thursday.
Earlier this week, the UK started administering the first doses of the Pfizer/BioNTech vaccine, giving priority to people over the age of 80, frontline healthcare workers and care home staff and residents.
Asian stocks fell on Thursday as Brexit negotiations reached stalemate and U.S. lawmakers failed to come to agreement over a proposed stimulus package.
European stocks are turning in a mixed performance, tracking updates on Brexit and coronavirus cases.
On Wednesday, the U.S. market hit record highs early trades, but faltered soon and spent the rest of the day's session in the red. The Dow ended with a loss of 105.07 points or 0.35 percent at 30,068.81, after hitting a high of 30,319.70.
The S&P 500, which spurted to 3,712.39, ended the day at 3,672.82, losing 29.43 points or 0.79 percent, while the Nasdaq slumped 243.82 points or 1.94 percent to settle at 12,338.95, way off a record high of 12,607.14 touched in early trades.
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